Inventories

12 Months Ended

Dec. 31, 2012

NOTE 3 - INVENTORIES

At December 31, 2012 and 2011, inventories consisted of the following:

	December 31, 2012			December 31, 2011
Raw materials	$	1,685,493		$	1,514,928
Work in process		2,602,990			1,441,231
Finished goods		1,745,052			1,492,488
		6,033,535			4,448,647
Less: reserve for obsolete inventory		(135,980	)		(172,557	)
	$	5,897,555		$	4,276,090

For the year ended December 31, 2012, the Company decreased reserve for obsolete inventory in the amount of $37,882 as the part of reserved inventory in prior years had been sold out in 2012. For the year ended December 31, 2011, the Company did not make any change for reserve for obsolete inventory.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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